725 S Alvarado Street, Los Angeles, CA 90057
- $4,250,000
- List Price
- $4,250,000
- Status
- ACTIVE
- MLS#
- SR26162857
- Year Built
- 1923
- Lot Size
- 11,738
- Acres
- 0.27
- Lot Location
- Near Public Transit
- Days on Market
- 1
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
Alvarado Apartments - a 35-unit mixed-use value-add in the heart of Westlake / MacArthur Park, comprising 24 residential units (23 studios + 1 one-bedroom) and 11 ground-floor commercial spaces including two restaurants and retail. Fully repiped and rewired in 2018 with fire sprinklers throughout. Offered at a 6.63% in-place cap rate rising to a 7.65% pro forma. Designated Residential Hotel on C2-2 zoning with a Transit Oriented Communities and State Density Bonus path to substantial added density. On-site parking, ground-floor retail income, and steps to the Metro B/D lines. Meaningful upside through studio mark-to-market, parking lease-up and Section 8 / HACLA-supported income. Buyer to verify all figures, unit legality, square footage and development potential.
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Additional Information
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 35
- Gross Scheduled Income
- $645,751
- Operating Expense
- 344421
Listing courtesy of Listing Agent: Logan Altman (logan@altmanapartments.com) from Listing Office: Altman Apartments LLC.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.